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bKash Ltd

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CHALLENGE

Poor people in Bangladesh face barriers to accessing financial services and their transactions are cash-based

  • Burdened with high risks and costs to send, store and receive cash currency
  • Limited access to financial services increases the costs for formal institutions (e.g. governments, companies, agencies) to transact with the poor, disincentivizing them to do so

PROGRAM STRATEGY

Providing poor people with access to affordable digital financial services can increase productivity, help manage shocks and reduce poverty

  • Mobile payment technology reduces the transaction costs and risks relative to cash
  • Mobile payments platform and associated data allows delivery of broad range of additional digital financial services to the poor

PARTNER

bKash Ltd.
Dhaka-based mobile financial service provider paving the way for financial inclusion by offering digital financial services across Bangladesh

Foundation focus: increasing penetration of agents and product awareness in rural and underserved markets; development of additional financial services supported by the platform

INVESTMENT 

Class A Preferred Equity
Date: March 2014
Co-Investors: BRAC Bank Ltd., Money in Motion LLC, IFC
Associated funding: grant to support new product development, enhanced data analytics and corporate risk assessment and mitigation

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